The Hindu Business Line : Turmeric futures hit upper circuit on firm demand

Mumbai, May 20 Turmeric futures in NCDEX on Tuesday hit the upper circuit of 4 per cent at Rs 3,753 a quintal following firm demand in the spot markets and easing arrivals.

Pepper and barley futures also hit the upper circuit at 3.64 per cent and 3 per cent at Rs 15,158 per quintal and Rs 1,270 per quintal respectively. Barley gained on strong demand in the spot markets.

Maize was up marginally by 0.91 per cent at Rs 830 per quintal on good demand in the Nizamabad spot markets.

Cocud recovers

Cocud prices recovered by 1.67 per cent at Rs 445 per 50 kg on firm demand for cotton and other edible oil complex.

Tracking the weak international markets, soyabean futures lost 0.63 per cent to Rs 2,335 per quintal.

Pressure on soya complex prices in eCBOT eased after farmers in Argentina called off their agitation, thus paving the way for negotiations with the Government to scrap export duty on farm products.

Sugar fell 0.49 per cent at Rs 1,420 per quintal on lacklustre.

Cardamom futures in MCX hit the upper circuit at 3 per cent on good export demand and low arrivals at the auction centres. Mentha dipped 1.03 per cent to Rs 472 per kg on profit booking after the last week’s rally in prices.

MCX recorded a turnover of Rs 4,866 crore up to 5 pm, while it was Rs 1,825 crore on NCDEX.

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